Aliante Casino Cafe also paying million to purchase Bally’s on the Atlantic City, N. J. the santa ana casino casino near me elgin il Boardwalk from Caesars Entertainment (NASDAQ:CZR) – another acquisition seen happening at a rock-bottom price. Those deals will take some time to close, giving TRWH the ability to repay an existing credit revolver and then borrow on it again in the future. “As the regulatory approval process for those transactions will take some time, Twin River intends to repay 0 million of revolving credit borrowings under the bank credit facility, which will be available for future borrowings in accordance with the credit agreement,” said the operator. At the end of the first quarter, TRWH had 5 million in cash on hand and 0 million in borrowing capacity, giving it one of the stronger capital positions among smaller regional gaming companies. The company has no debt maturities coming due until 2024.

Not Much Vision on ReopeningTwin River’s gaming property roster is currently comprised of seven casinos – two in Rhode Island, one in Mississippi, one in Delaware, and three casinos plus a horse racetrack in Colorado. paragon casino the draft room valley forge casino open As is the case with comparable venues throughout the US, the company’s properties remain shuttered due to the coronavirus, and TRWH has little visibility as to when its operations will be allowed to reopen. Operators with exposure to multiple states are saying they expect various timelines as to when their properties will be open again. “While we remain optimistic about reopekansas star casino and hotelning, this additional financing ensures we have the financial resources necessary to continue funding operations, servicing our obligations, and pursing organic and strategic growth opportunities through the COVID-19 crisis,” said TRWH CEO George Papanier. On a brighter note, analysts are lauding the company’s recent purchases. In addition to the favorable pricing – 0 million combined for three casinos is seen as cheap – Wall Street is applauding TRWH’s ongoing effort to increase geographic diversity and reduce its revenue dependence on the highly competitive New England market. call harrah s cherokee casino Gaming and Leisure Properties (NASDAQ:GLPI), MGM Growth Properties (NYSE:MGP) and Vici Properties (NYSE:VICI) comprise the publicly traded universe of domestic gaming real estate assets. wild casino withdrawal rules desert diamond casino sahuarita arizona

Key Insights and Expert Analysis

Those names could be investors’ preferred avenues for wagering on the industry’s post-coronavirus resurgence, according to one analyst. Lock N Link Free Slots Umhu Gaming REITs, such as Caesars Palace owner Vici, look like sound bets, according to one analyst. big fish casino pc (Image: CNBC)This is the first downturn faced by the gaming real estate investment trusts (REITs), because the oldest – GLP – didn’t debut as a public company until 2012, prompting some investors to ponder the fate of companies in what is becoming an extended zero-revenue environment for their operator tenants. However, Nomura Instinet analyst Daniel Adam believes the property firms are the best bets for investors positioning for an industry resurgence. red stag casino bonus ohne einzahlung Twin River Casino Hotel Jlgt With kansas star casino and hotelthe COVID-19 pandemic having resulted in casino closures throughout the world, rather than choose winners and losers among the operators, we consider the Gaming REITs to be a much safer way for equity investors to gain exposure to an eventual recovery in Gaming,” he wrote in a recent note to clients. Intertops Casino Review Ymkl Some market participants appear to agree with Adam’s assessment, as shares of the three REITs soared off their 52-week lows. mychoice casino free play palace station casino oyster bar GLP has nearly doubled off its March nadir, while MGP and Vici are higher by 121. choctaw casino addreb

43 percent and 81. Admiral Casino Piccadilly Icrh 73 percent, respectively. Allaying ConcernsDomestic casino closures forced by COVID-19 commenced in mid-March. soaring eagle casino logo four winds casino phone number That prompted some concern in the investment community regarding the ability of the gaming REITs to collect April rent. Thus far, that hasn’t been an issue, with GLP and Vici each saying essentially all tenants paid rent for the fourth month of the year. seneca niagara casino front desk With May 1 just two days away and US casinos having been call morongo casino